Business Desk
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
FOOD INDUSTRY
WINN-DIXIE TO CUT 22,000 POSITIONS, CLOSE 326 STORES
Winn-Dixie Stores, owner of 913 supermarkets in nine states and the Bahamas, will cut 22,000 jobs and close about 326 stores as the company shrinks following its bankruptcy filing in February. Outlets will be reduced to 587 in five states and the Bahamas and the workforce will be cut by 28%, CEO Peter Lynch said in a conference call yesterday. The moves are part of the grocer’s attempt to reduce costs to compete with national, low-cost competitors like Wal-Mart Stores and eventually repay creditors some or all of the almost $2 billion they were owed when the company filed for bankruptcy.
– Bloomberg News
KRISPY KREME OUSTS SIX OFFICERS IN HOUSECLEANING
CHARLOTTE, N.C. – Krispy Kreme Doughnuts removed six veteran executives yesterday as the doughnut maker continues to investigate past accounting practices and tries to separate itself from a troubled history.
The company said five unidentified officers had resigned and one retired after a review by a special committee of directors into legal and ethical matters.
– Dow Jones Newswires
